Assetmark Inc. Sells 43 Shares of Medpace Holdings, Inc. (NASDAQ:MEDP)

Assetmark Inc. reduced its holdings in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 23.0% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 144 shares of the company’s stock after selling 43 shares during the quarter. Assetmark Inc.’s holdings in Medpace were worth $48,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Signaturefd LLC grew its stake in shares of Medpace by 4.9% in the second quarter. Signaturefd LLC now owns 559 shares of the company’s stock valued at $230,000 after buying an additional 26 shares in the last quarter. Wealth Alliance grew its stake in shares of Medpace by 2.9% in the second quarter. Wealth Alliance now owns 970 shares of the company’s stock valued at $399,000 after buying an additional 27 shares in the last quarter. Commonwealth Equity Services LLC grew its stake in shares of Medpace by 0.7% in the second quarter. Commonwealth Equity Services LLC now owns 4,340 shares of the company’s stock valued at $1,787,000 after buying an additional 32 shares in the last quarter. Journey Advisory Group LLC grew its stake in shares of Medpace by 1.9% in the second quarter. Journey Advisory Group LLC now owns 2,390 shares of the company’s stock valued at $984,000 after buying an additional 44 shares in the last quarter. Finally, Parkside Financial Bank & Trust boosted its position in Medpace by 7.8% during the second quarter. Parkside Financial Bank & Trust now owns 633 shares of the company’s stock worth $261,000 after purchasing an additional 46 shares during the period. 77.98% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have commented on MEDP. TD Cowen reduced their price objective on shares of Medpace from $413.00 to $372.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. Jefferies Financial Group cut shares of Medpace from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $415.00 to $345.00 in a research report on Wednesday, September 25th. UBS Group cut shares of Medpace from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $420.00 to $350.00 in a research report on Friday, September 27th. William Blair reaffirmed an “outperform” rating on shares of Medpace in a research report on Tuesday, October 22nd. Finally, Truist Financial reduced their price objective on shares of Medpace from $415.00 to $397.00 and set a “hold” rating for the company in a research report on Monday, October 14th. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $380.00.

Medpace Stock Down 0.5 %

MEDP stock opened at $308.93 on Tuesday. The company has a market cap of $9.60 billion, a PE ratio of 27.20, a price-to-earnings-growth ratio of 1.72 and a beta of 1.37. The business has a 50-day simple moving average of $341.51 and a 200 day simple moving average of $375.46. Medpace Holdings, Inc. has a 52 week low of $268.80 and a 52 week high of $459.77.

Medpace (NASDAQ:MEDP) last posted its quarterly earnings results on Monday, October 21st. The company reported $3.01 EPS for the quarter, beating analysts’ consensus estimates of $2.77 by $0.24. The business had revenue of $533.32 million during the quarter, compared to the consensus estimate of $540.99 million. Medpace had a return on equity of 50.87% and a net margin of 17.66%. Medpace’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.22 earnings per share. On average, analysts anticipate that Medpace Holdings, Inc. will post 11.93 EPS for the current fiscal year.

Medpace Profile

Medpace Holdings, Inc provides clinical research-based drug and medical device development services in North America, Europe, and Asia. The company offers a suite of services supporting the clinical development process from Phase I to Phase IV in various therapeutic areas. It provides clinical development services to the pharmaceutical, biotechnology, and medical device industries; and development plan design, coordinated central laboratory, project management, regulatory affairs, clinical monitoring, data management and analysis, pharmacovigilance new drug application submissions, and post-marketing clinical support services.